Elenas anut bought her a 150$ saving bond when she was born. when elena is 18 years old, the bond will have earned a 106% in interest. how much will the bond be worth when elena is 18 years old

The Amount after 18 years is $66,942,391.5

Step-by-step explanation:

Given as :

The principal invested in saving bond = p = $150

The Time period for the bond = t = 18 years

The rate of interest applied on bond = 106%

Let The Amount after 18 years = $A

Now, From compound interest

Amount = Principal ×

Or, A = p ×

Or, A = $150 ×

Or, A = $150 ×

Or, A = $150 × 446,282.61

∴ A = $66,942,391.5

So,The Amount after 18 years = A = $66,942,391.5

Hence,The Amount after 18 years is $66,942,391.5 Answer

just took the test and my answers down below!

step-by-step explanation:

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